Changing Capital Markets: Implications for Monetary Policy

Changing Capital Markets: Implications for Monetary Policy

A symposium sponsored by the Federal Reserve Bank of Kansas City
Jackson Hole, Wyoming
August 19-21, 1993

Full publication

Opening Remarks
Alan Greenspan
Financial Markets in Transition - or the Decline of Commercial Banking
Franklin R. Edwards
Commentary : Financial Markets in Transition-or The Decline of Commercial Banking
Kumiharu Shigehara
Credit Channel or Credit Actions? An Interpretation of the Postwar Transmission Mechanism
Christina D. Romer and David H. Romer
Commentary: Credit Channel or Credit Actions? An Interpretation of the Postwar Transmission Mechanism
Charles Freedman
Commentary: Credit Channel or Credit Actions? An Interpretation of the Postwar Transmission Mechanism
Mark Gertler

The Role of Judgment and Discretion in the Conduct of Monetary Policy: Consequences of Changing Financial Markets
Benjamin M. Friedrnan
Commentary: The Role of Judgment and Discretion in the Conduct of Monetary Policy
Donald L. Kohn
Commentary: The Role of Judgment and Discretion in the Conduct of Monetary Policy
Reiner Konig
Commentary: The Role of Judgment and Discretion in the Conduct of Monetary Policy
Allan H. Meltzer
Financial Markets in 2020
Charles S. Sanford, Jr.
The Integration of World Capital Markets
Michael Mussa and Morris Goldstein
Commentary: The Integration of World Capital Markets
Martin Feldstein

Commentary: The Integration of World Capital Markets
Robert A. Johnson

Monetary Policy Implications of Increased Capital Flows
Andrew Crockett
Commentary : Monetary Policy Implications of Increased Capital Flows
Antonio M. Borges
Commentary: Monetary Policy Implications of Increased Capital Flows
Alberto Giovannini

OVERVIEW PANELISTS
Stanley Fischer
Jacob A. Frenkel
Toyoo Gyohten
Hans Tietmeyer